Press Release
Sportradar (Nasdaq: SRAD) is going to shock analysts in Q2 off the back of UEFA EURO 2024, ATP and Cricket: $22.91 Price Target!
By Gerry Rodriguez
Sportradar (Nasdaq: SRAD) is set for a strong Q2, fueled by major sporting events like UEFA EURO 2024 and the ATP, with expected revenue surpassing Q1’s €266 million. The company’s innovative products, revenue share model, and key hires in technology are driving growth, leading analysts to project a target stock price of $22.91, well above the current $11.07. Sportradar is poised for long-term success in the expanding sports betting market.
Key Insights
- Increased interest and solid margins across EURO 2024 and Indian Premier League key to underestimated profits for SRAD with their revenue share model
- Huge volume of ATP matches and new products to power revenues versus 2023
- Robust business model to take advantage of tailwinds in Brazil
- Two key hires are expected to have immediate impact
- DCF model shows $22.91 target stock price vs. current $11.07
Revenue Soaring
Every shareholder of large bookmakers such as DraftKings (Nasdaq: DKNG) knows to look out for seasonal revenues relating to the Superbowl or Stanley Cup Finals. But SRAD – which delivered €266m 2024 Q1 revenues and “Betting Technology & Solutions” 2024 Q1 revenue of €219m – is in fact tied to the growth of sports betting globally.
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
There was very encouraging news for investors in Q1 with 28% YoY growth across the business and an eye-opening 35% YoY increase for the Betting Technology & Solutions vertical. This is somewhat close to DKNG’s 53% as per their Q1 2024 earnings. The latter is able to increase off the back of expensive customer acquisition and marketing which led to a repeated net loss in Q1 of $143m. This is in stark comparison to SRAD’s 19% Adjusted EBITDA margin and a 2023 net profit margin of 3% or €7m, and €275 million cash and cash equivalents / €220 million undrawn credit facility, compared to €460 million in Q1 2023.
Having established Q1 was a rip-roaring success, what is expected in Q2?
Revenue in the second quarter of 2023 increased 22% to €216.4 million compared with the second quarter of 2022 and above Q1’s figure of €208m. Therefore, we can expect 2024’s Q2 to be slightly higher than Q1’s €266m. But, there are a number of sporting events which could drive these revenues higher:
- EURO 2024 – Darren Small, SVP of Managed Trading Services said the following in an interview after the tournament finished:
“Overall, the tournament was good for us. We saw a very low-scoring tournament, particularly from some of the most favoured teams. I don’t even think France managed to average a whole goal out of the games. I think they averaged around 0.67 goals a game. The same thing with Cristiano Ronaldo not scoring many goals in open play. In fact, from a betting perspective, they probably were the two of the heaviest-backed teams and individual top goal scorers in the competition.”
These figures may not have been taken into account by investors as SRAD’s Managed Trading Services are overlooked in favour of their traditional subscription service data products.
- Indian Premier League (cricket) & Cricket World Cup – there is reason to believe SRAD over-performed versus expectations.
LinkedIn: Link
In addition to the Indian Premier League, the Cricket World Cup featured an exciting contest and whilst favourites India prevailed, there is sure to have been betting profits made.
- ATP – SRAD’s jewel in the crown is going to bring new revenue versus 2023, having won the rights from competitor IMG Arena late last year. What’s even more encouraging is the products which have been built to complement the comprehensive betting coverage. In March 2024, SRAD launched 4Sight. According to SRAD:
“In essence, the technology overlays ultra-fast data into live streams, delivering a continuous flow of engaging statistics that appear in real time, from serve speed and ball bounces, to total shots in each rally.”
- WNBA – and what about superstar Caitlin Clark, driving incremental revenues via SRAD’s NBA partnership? How could we forget this 10 year partnership and even embedding betting solutions within NBA’s League Pass.
With Q2 revenues likely secured off the back of significant rights deals and good performance in marquee tournaments, let us turn our attention to personnel.
Wise Heads
In May, SRAD announced two significant additions to its roster – CFO Craig Felenstein and Chief Technology and Artificial Intelligence Office Behshad Behzadi.
SRAD Q1 2024 Earnings Presentation: https://investors.sportradar.com
These hires signal both a maturity and an investment in the future. Both are expected to create immediate value in terms of SRAD’s business model and galvanising the company to think BIG.
This comes off the back of restructuring in January:
“By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business,” Sportradar CEO Carsten Koerl said in a statement. “These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us.”
With SRAD relying on both its People, sporting tailwinds, its technology and a nod to AI, the future is certainly bright.
DCF Model
Based on all available information, we are able to build a DCF model, reflecting the historical and continued growth in revenue and EBITDA for SRAD.
SRAD DCF model – EPS by analyst DC
SRAD DCF model – stock price output by analyst DC
For Sportradar, net margins are rising quickly from a low point and could benefit from a number of factors, not least of which is the current summer’s schedule of important sporting events. Given the rapid expansion of the US betting market, the firm is especially well-positioned to take a larger portion of this market. Sportradar’s leading position in the rapidly expanding sports betting business makes us think that the management team’s expectations of double-digit revenue CAGR through the end of the decade—driven by market expansion, new markets, new products, and improved product penetration—are realistic. In addition, we think that when Sportradar grows in the US, EBITDA margins will probably rise from 20% to 25%.
All things considered, we think Sportradar provides investors with long-term exposure to the quickly expanding sports betting market with a pure-play potential through a successful B2B operating model that is mostly subscription-based (around 76% of revenue). With a 20% two-year adjusted EBITDA CAGR, a robust balance sheet (with $240 million in cash versus debt and 98% equity as a percentage of total capital), $200 million in planned share repurchases for 2024, increased operating leverage in subsequent years, and a fair valuation in light of its growth prospects and comparable companies, the company has one of the strongest growth profiles in its industry.
Conclusion
We have a stock that is undervalued and misunderstood. We predict a lucrative Q2 driven by SRAD’s betting revenue share sales model, restructuring of the business in Q1 and a very resistant business with a significant moat for future years.
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About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Towerstone Accountants Launches Inheritance Tax Advisory Service Amid Upcoming Pension Tax Changes
Bedford, United Kingdom – Towerstone Accountants has announced the launch of a specialized Inheritance Tax Advisory Service to help individuals navigate the significant upcoming changes to pension taxation. With new rules set to take effect in 2027, unspent pension funds will become subject to Inheritance Tax (IHT) at 40%, potentially impacting thousands of families.
Proactive Planning for Changing Tax Rules
For years, pensions have served as a tax-efficient way to pass down wealth. However, under the revised regulations, any remaining pension funds at the time of death will be included in the deceased’s estate, making them subject to IHT.
“Many individuals have structured their financial plans around the assumption that pensions are outside the IHT net,” said Christina Odgers, Managing Director at Towerstone Accountants. “This change requires a proactive approach, and our new Inheritance Tax Advisory Service is designed to help clients safeguard their wealth.”
Tailored Strategies for Tax Efficiency
Towerstone Accountants’ Inheritance Tax Advisory Service will provide personalized strategies, including:
- Optimized Pension Withdrawals – Advising clients on the most tax-efficient ways to draw down their pension while reducing their estate’s taxable value.
- Early Gifting Plans – Helping clients leverage HMRC’s tax-free gifting rules, ensuring funds reach their loved ones instead of being lost to tax.
- Alternative Investment Planning – Exploring tax-efficient investment options, such as Business Relief-qualifying assets, to protect wealth from IHT.
- Estate Structuring & Trusts – Assisting clients in setting up trusts and maximizing available allowances for spouses, civil partners, and charities.
Helping Clients Stay Ahead of HMRC
With the 2027 deadline fast approaching, Towerstone Accountants urges individuals to review their estate plans now.
“Waiting until the last minute could mean losing a significant portion of your inheritance to tax,” said Laura Stevenson, Estate Planning Expert. “Our team is ready to help clients develop robust tax strategies tailored to their needs.”
Book a Consultation Today
Towerstone Accountants is now offering free initial consultations for individuals concerned about the upcoming IHT changes. To learn more or schedule an appointment, visit https://www.towerstone.co.uk/ or contact the estate planning team directly.
About Towerstone Accountants
Towerstone Accountants is a leading advisory firm specializing in tax planning, wealth management, and estate strategies. With a team of experts dedicated to minimizing tax liabilities and preserving family wealth, Towerstone provides tailored financial solutions for individuals and businesses alike.
Media Contact:
Name: Christina Odgers
Organization: Towerstone Accountants Ltd
Phone: +44
Email: Christina@towerstone.co.uk
Website: https://www.towerstone.co.uk/
City: Bedford
Country: United Kingdom
Media Contact
Organization: Towerstone Accountants Ltd
Contact Person: Christina Odgers
Website: https://www.towerstone.co.uk/
Email: Christina@towerstone.co.uk
Contact Number: +441234889034
Country: United Kingdom
Release Id: 24022524177
The post Towerstone Accountants Launches Inheritance Tax Advisory Service Amid Upcoming Pension Tax Changes appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
Wojciech Podobas Exits Kaonavi Stake Through Podobas Global Investments Following $335M Tender Offer
Voytek Podobas, founder of Podobas Global Investments, has exited his 6% stake in Kaonavi, Inc. (4435.T), a Tokyo Stock Exchange-listed SaaS company, after Carlyle Group’s Keystone Investment Holdings L.P.’s tender offer valued at over JPY 50 billion (approximately USD 335 million).
TOKYO, JAPAN, 24th Feb 2025 — Kaonavi, Inc. (TSE: 4435), a leading SaaS provider specializing in talent management systems, announced a tender offer by Keystone Investment Holdings L.P., an affiliate of The Carlyle Group. The transaction, valued at approximately JPY 52.28 billion (USD 335 million), marks a strategic move to privatize the company, enabling long-term growth and innovation.
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Kaonavi, founded in 2008, provides a cloud-based platform designed to centralize and optimize corporate personnel information, supporting businesses in enhancing employee engagement and productivity. The company went public on the Tokyo Stock Exchange Mothers Market in March 2019 before transitioning to the Growth Market in 2022.
The tender offer, launched on February 14, 2025, and was priced at JPY 4,380 per share, representing a premium of 120.65% over the closing price on February 13, 2025 . The offer also included stock acquisition rights, aligning with the goal of making Kaonavi a wholly owned subsidiary of Keystone Investment Holdings L.P..
Within the transaction, Voytek Podobas (Wojciech Jakub Podobas), founder of Podobas Global Investments, exited his 6% ownership stake, valued at over JPY 3 billion (USD 20 million). His investment exemplified strategic backing of Kaonavi’s growth trajectory and reflects a successful exit from a startup-stage investment as the company embarks on its next phase under private ownership.
With the support of The Carlyle Group’s global resources and expertise, Kaonavi aims to accelerate product development, expand its multi-product offerings, and strengthen its market presence in Japan and beyond. The transaction marks a significant success for the entire Kaonavi team, highlighting their achievements and growth in the HR technology sector.
Media Contact
Organization: Podobas Global Investments
Contact Person: Maya Synowiec
Website: https://www.podobas.global/
Email: office@podobas.global
City: Dubai
Country: United Arab Emirates
Release Id: 24022524266
The post Wojciech Podobas Exits Kaonavi Stake Through Podobas Global Investments Following $335M Tender Offer appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
Press Release
World Mobile Recognized as ITB Innovator 2025 for Transforming Global Travel Connectivity
Berlin, Germany, 24th Feb 2025 – World Mobile has been named an ITB Innovator 2025 by ITB Berlin, the world’s leading travel trade show, in recognition of its groundbreaking advancements in travel technology. This prestigious honor highlights World Mobile’s role in redefining global travel connectivity through its unlimited travel eSIM, which offers seamless, high-speed internet access across more than 120 countries.
With international travel on the rise, the demand for reliable, cost-effective connectivity has never been greater. Traditional roaming fees, SIM card swaps, and unreliable public Wi-Fi have long been pain points for travelers. World Mobile has addressed these challenges by establishing partnerships with over 250 mobile networks worldwide, ensuring a seamless and uninterrupted internet experience for users.
Haim Boukai, Senior VP of Business Development at World Mobile, described the recognition as a validation of the company’s commitment to revolutionizing travel connectivity. He emphasized that in an increasingly digital world, staying connected should be effortless, affordable, and worry-free.
Unlike traditional SIM cards and many existing eSIM solutions, World Mobile’s technology enables travelers to stay online without concern about data limits, hidden fees, or unreliable connections. By automatically connecting to the strongest available local network, it provides uninterrupted global access, setting a new standard for travel connectivity.
The ITB Innovator 2025 award not only underscores World Mobile’s leadership in travel technology but also presents a valuable opportunity for airlines, travel agencies, and hospitality providers to integrate seamless eSIM solutions into their services. As the demand for digital solutions grows, travel businesses can enhance customer experience and offer a more connected journey.
Looking ahead, World Mobile is actively investing in next-generation connectivity solutions, including AI-driven network optimization, enhanced 5G integration, and strategic partnerships with major travel platforms. With a commitment to continuous innovation, the company remains at the forefront of digital transformation in the travel industry.
About World Mobile
Founded in 2019, World Mobile is a leading provider of global travel connectivity solutions. By leveraging cutting-edge eSIM technology and strategic partnerships with over 250 mobile networks, the company ensures seamless, high-speed internet access across more than 120 countries. Its unlimited travel eSIM is designed to eliminate the complexities of traditional roaming, offering travelers an affordable and hassle-free way to stay connected.
For more detail Visit https://www.worldmobile.com/
Media Contact
Organization: World Mobile
Contact Person: Haim Boukai
Website: https://www.worldmobile.com/
Email: affiliate@worldmobile.com
Country: Germany
Release Id: 24022524310
The post World Mobile Recognized as ITB Innovator 2025 for Transforming Global Travel Connectivity appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.
About Author
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.
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